Global Geomarketing Market to Grow at a CAGR of 24.8% During 2024-2032, Aided by the Growing Adoption of Geomarketing in Retail and E-Commerce Industry

The growth of the geomarketing market is being driven by the growing adoption of geomarketing by retail and e-commerce companies. Geomarketing allows a firm to identify their competition, optimise commercial network, identify new business opportunities, reach the target audience efficiently, and timely and increase the sale of a company. The growing expansion of small, medium, and large enterprises is likely to be a major growth driving factor for the market. The growing need to improve the client experience in order to build a good reputation of a firm is likely to augment the market growth during the forecast period. 

In June 2021, Amazon Web Services (NASDAQ:AMZN) made an announcement that the company is all set to make Amazon location service generally available. Amazon location service has been designed to facilitate various technological functions, such as asset tracking and geomarketing, among others. 

In terms of region, the Asia Pacific region is likely to account for a significant share of the market owing to the increasing number of software engineers, marketing professionals, public relation officers, and salesmen across emerging economies such as India and China. The penetration of internet of things (IoT), rising population, thriving travel and tourism industry in the region are some of the factors which are anticipated to drive the market growth in the forecast period.

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Market Breakup by Components, Services, Location Types, Deployment Modes, Organisation Sizes, Verticals, and Region:

• The market is segmented on the basis of components into software and services.

• The different services in the market include advisory and consulting, deployment and integration, support and maintenance.

• The market segmentation, on the basis of location type, include indoor and outdoor.

• By deployment mode, the market can be divided into cloud and on-premise.

• The different organization sizes in the market include large enterprises, small and medium sized enterprises.

• The significant verticals in the industry include retail and e-commerce, healthcare and life sciences, travel and hospitality, banking, financial services and insurance, media and entertainment, telecommunication and IT, among others.

• Region-wise, the global market for geomarketing can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

Key Findings of the Report:

• The growth of the global market is driven by the growing adoption of geomarketing in the retail and e-commerce industry.

• The market growth is anticipated to be driven by the growing trend of internet of things (IoT) and increasing adoption of tech-devices.

• The growing competition among the retail and e-commerce companies owing to the rising population and the growing need to increase the sales of the company is likely to augment the market growth.

• The market will further be aided by the technological advancements and expansion of the small, medium, and large enterprises.

Key Offerings of the Report:

• The EMR report gives an overview of the market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the      components, services, location types, deployment modes, organisation sizes, verticals, and region.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the market are Google LLC, Microsoft Corporation, International Business Machines Corporation, Cisco Systems, Inc., and Oracle Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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